SoftBank Sells 1.2% Stake In Ola Electric, Offloads 1.12 Cr Rights Entitlements
SoftBank's investment vehicle sold 5.55 crore shares between January and October, leaving it with 54.15 crore shares. The entity also divested 1.12 crore rights entitlements from the two-for-25 rights issue. SoftBank's holding has decreased since Ola Electric's public listing in August 2024, following its initial $250 million investment in 2019 and subsequent funding in 2021.
Key points
- SoftBank reduced stake from 12.9% to 11.7% via open market sales
- Sold 5.55 Cr shares and 1.12 Cr rights entitlements in the period
- Ola Electric conducting ₹1,000 Cr rights issue for debt repayment and expansion
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